In May 2025, the Timely Monthly Indicator of Manufacturing Activity (IMOAM) anticipated an annual increase of 0.4% , which means a rebound in Mexico’s manufacturing industry compared to the estimate from last April, when a decline of 2.1 percent was projected.
According to the report, prepared by the National Institute of Statistics and Geography (INEGI) , in the fifth month of the year the IMOAM was located at 109.1 points .
The estimate, with a 95% confidence interval, placed the lower limit at 105.9 points and the upper limit at 112.3 points.
According to BBVA Research estimates , the Mexican manufacturing sector will recover, albeit gradually and under the uncertainty generated by the United States tariff policy.
Economic activity in April, with positive figures
Meanwhile, INEGI also announced that the Global Economic Activity Indicator (IGAE) registered a monthly increase of 0.5% in April 2025, driven by an increase in industrial production, while the logistics sector showed positive performance.
According to the agency, the IGAE grew 1.4% year-on-year in the fourth month of the year.
By component, tertiary activities , which include the services sector, increased by 0.9%, and secondary activities , which include the manufacturing industry and construction, grew by 0.1% monthly.
Primary activities , which include agriculture and livestock, decreased by 3.7% on a monthly basis.
On an annual basis, primary activities increased by 3.2 percent and tertiary activities by 2.2 percent. Secondary activities decreased by 0.7 percent.
By sector, manufacturing grew 0.7% monthly and 1.4% annually. In contrast, construction performed negatively, with a 2% monthly decline and a 2.7% annual decline.
Meanwhile, transportation, mail, and storage registered monthly and annual increases of 1.2% and 1.5% , respectively.
According to INEGI, the IGAE allows for understanding and monitoring the short-term evolution of the real sector of the economy.
According to an analysis by Grupo Financiero Monex , economic activity in Mexico faces various risks associated with inflation, which could weaken domestic consumption and cause a slowdown in some productive sectors, such as construction.
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